Rev Group Inc (REVG) Receives Average Recommendation of “Buy” from Brokerages
Shares of Rev Group Inc (NASDAQ:REVG) have been assigned an average recommendation of “Buy” from the eleven analysts that are covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $32.00.
Separately, Zacks Investment Research upgraded Rev Group from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a report on Wednesday, August 9th.
In other Rev Group news, COO Thomas B. Phillips sold 10,000 shares of Rev Group stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $26.73, for a total transaction of $267,300.00. Following the completion of the sale, the chief operating officer now directly owns 10,000 shares of the company’s stock, valued at approximately $267,300. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
Several institutional investors and hedge funds have recently added to or reduced their stakes in REVG. Vanguard Group Inc. bought a new position in shares of Rev Group in the 1st quarter worth $31,542,000. Park West Asset Management LLC bought a new position in shares of Rev Group in the 1st quarter worth $22,061,000. Rice Hall James & Associates LLC bought a new position in shares of Rev Group in the 2nd quarter worth $18,470,000. Vaughan Nelson Investment Management L.P. raised its position in shares of Rev Group by 345.9% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 621,025 shares of the company’s stock worth $17,190,000 after acquiring an additional 481,750 shares in the last quarter. Finally, Ameriprise Financial Inc. bought a new position in shares of Rev Group in the 1st quarter worth $10,316,000.
Shares of Rev Group (NASDAQ:REVG) traded down 0.86% during trading on Wednesday, hitting $28.68. The company had a trading volume of 277,457 shares. The company has a market capitalization of $1.83 billion and a P/E ratio of 89.07. Rev Group has a 52 week low of $23.55 and a 52 week high of $31.60. The stock’s 50-day moving average price is $27.95 and its 200 day moving average price is $27.95.
Rev Group (NASDAQ:REVG) last posted its quarterly earnings data on Thursday, September 7th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.05. Rev Group had a return on equity of 11.25% and a net margin of 2.55%. The company had revenue of $595.60 million during the quarter, compared to analysts’ expectations of $619.57 million. The company’s revenue was up 12.8% on a year-over-year basis. On average, equities research analysts forecast that Rev Group will post $1.19 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Tuesday, October 31st will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date is Monday, October 30th.
Rev Group Company Profile
REV Group, Inc is a designer, manufacturer and distributor of specialty vehicles and related aftermarket parts and services. The Company operates through three segments: Fire & Emergency, Commercial and Recreation. The Company provides customized vehicle solutions for applications, including essential needs (ambulances, fire apparatus, school buses, mobility vans and municipal transit buses), industrial and commercial (terminal trucks, cut-away buses and street sweepers) and consumer leisure (recreational vehicles (RVs) and luxury buses).
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